HKexpat

Hi, have recently retired and am now based in Thailand. Am just wondering if in the future I realized a capital gain from the sale of shares in a private company (purchased before coming to Thailand) am I potentially liable to capital gains tax in Thailand as a retiree living here once the overseas shares are sold? I would not expect to bring the realized gain into Thailand in the year it was made. Thanks.

Thank you for clarifying.

If I am using the THB8xx,xxx method for my O retirement visa how often should I be updating my bank book to show that the amount has not fallen below the required minimum amount? Thanks.

Was the letter from the bank you took with you from a Thai bank or western one? Also wondering whether I would be required to file a tax return each year if I am issued with a Thai Tin solely to satisfy bank requirements. Thanks.

HSBC (UK) will allow you to maintain a UK bank account with an overseas address.

Thanks for the comments and suggestions. I also bank with HSBC so I may just put Thailand and say I don’t have a Tin as I have retired. For now though as I still believe I am classed as ordinarily resident in HK will stay with HK as I have a TIN there too. Am originally from the UK and still have a permanent HKID card. Am reluctant to use an address I don’t actually reside at. Thanks.

Does having a retirement O visa in Thailand also mean you are deemed to be tax resident here? I guess not as am not working but having recently changed address with my overseas bank they are asking me to confirm where I am tax resident. As I only recently left HK and have a permanent residency status there still I believe my tax residency is deemed as HK for the current tax year but assuming I stay in Thailand what do people then use if asked by your bank to fill in a CRS form to confirm your tax residency? Thank you.

Thank you Dr Jack.

Hi, When going to do your first 90 day report at MTT do you also have to do a notification of residence if you have already previously done the TM30 on arrival at your condo and are still residing at the same address? Thank you.

Thanks, same situation with the added stress of giving notice on my lease and re-locating at the same time. Hence the rationale to take a few days to relax when I arrive before doing the visa stuff. Safe travels.

Yes, that’s how I understand it too. Though booked a place I used to like staying at for 5 days anyway and figure will lay low until the required antigen test which you take yourself on day 5.

Thank you both for clarifying.

Am arriving visa exempt and will do 5 days test and go before moving to my condo. I know I need to file a TM30 for my arrival at my condo before applying for a non o retirement visa. Do I also need a copy of the TM30 receipt filed by the hotel on arrival for my 5 day test and go? Thank you.

Thank you both, I also just confirmed by calling the help desk that you can’t bring it forward to an earlier date. Already re-applied. Thanks

Thanks Ubanjoe, so if original flight was Mar 9 and I change it to Mar 6 at the same time this seems to indicate there is no need to apply for a thai pass. Is this correct? I wonder if the airline will accept this. If I also apply for a new Thai pass anyway for the revised date 3 days earlier will this just get bounced back as not needed? Thanks.

I already got approved for the thai pass and then want to amend the departure date to leave a few days earlier. The thai pass button that indicates you can amend your booking is closed off once the thai pass is approved so am guessing this means I have to complete a new thai pass with new supporting docs etc. is this correct or am I missing something?

Thank you for clarifying.

Thank you, will check it out.

Thank you for clarifying. Unfortunately the transfer has already been made to the developer although on checking is did the bulk of this in my home countries local currency and then paid the rest in thai baht from my thai bank account a week or so later. Will therefore have to hope that the other avenues mentioned are suitable. Thank you.

Thank you for clarifying.

Thank you for the comments it’s very useful to have other members experiences of doing this. The Chanote is in my name so hopefully the land office received confirmation of a FET from the developer as the funds I transferred from overseas went straight into their account. I plan to move to live in the condo next month and will be retired so no plans to sell for now but good to know the process when and if I do. Thank you.

Thanks, in retrospect if I had transferred the funds to my thai account first it would be easier to show but the issue is I transferred from overseas in thai baht at the time to the developer directly. I bought from some thai friends who basically just transferred the right to purchase to me for a small profit so I paid them an amount on top of what I paid the developer from my thai account once I was in Thailand. The main concern is the bulk of the purchase was made to the developer directly. Any idea what I would be asking for at the land office if a trip was made there? Thank you.

I bought a condo in Bangkok 4 years ago and at the time wired funds from my overseas bank that I had converted to Thai Baht before doing the wire transfer as the amount the developer required from me was a specific amount in thai baht. I also had no way of knowing what amount they would receive if I sent my local currency to be exchanged by the developers bank in Thailand on receipt so converting the funds to thai baht before doing the wire transfer at the time seemed the logical thing to do. Whilst the purchase is now all completed ok I do not have any foreign currency receipt from the developers bank although I have kept my own telegraphic transfer copy from my own overseas bank. My question is if and when I decide to sell the condo as long as I pay the relevant taxes on the sale of the condo can u then simply wire the funds back out of Thailand from my thai bank account once they are received or do I need some other documentation to be able to repatriate the funds I sent to purchase the condo once it’s sold? Thank you.

I bought a condo in Bangkok 4 years ago and at the time wired funds from my overseas bank that I had converted to Thai Baht before doing the wire transfer as the amount the developer required from me was a specific amount in thai baht. I also had no way of knowing what amount they would receive if I sent my local currency to be exchanged by the developers bank in Thailand on receipt so converting the funds to thai baht before doing the wire transfer at the time seemed the logical thing to do. Whilst the purchase is now all completed ok I do not have any foreign currency receipt from the developers bank although I have kept my own telegraphic transfer copy from my own overseas bank. My question is if and when I decide to sell the condo as long as I pay the relevant taxes on the sale of the condo can u then simply wire the funds back out of Thailand from my thai bank account once they are received or do I need some other documentation to be able to repatriate the funds I sent to purchase the condo once it’s sold? Thank you.

Thank you